I saw some interesting data on Twitter recently used as the basis for an argument that rising interest rates will not necessarily cause prices to fall:https://twitter.com/NikhaarSha...I tend to agree and think that the only way prices substantially adjust is if inventory/supply increases.

Just take notes so that when you form the 2nd one, it's even easier.All of the more substantial (Meaning, at least millions invested) investors I know, invest through LLC's to cheaply and easily limit their liability.

Purchase price: $65,000 Cash invested: $24,000 Sale price: $135,000 Purchased a duplex out in Cincinnati, one unit was occupied, the other needed a somewhat substantial rehab.

There are some substantial value add projects that have been done on small multi family in the areas surrounding downtown, and even some condo conversions, but those are $200K+ rehabs from the numbers I've seen, so the budget will play a large role in what areas are even accessible to you.     

If you intend to stay in your home for a long time, the property's value will increase and give you a substantial return on investment.

Landlords must be able to substantiate certain elements of expenses to deduct them.

Get a quote for the expense to substantiate your deduction.

If titled in an S Corp though, there could be some tax savings, but the additional CPA expenses wouldn't likely be worth it until your gross income for the S Corp was substantial. 

By the time it came around for me to do an FHA streamline rates had fallen substantially allowing me to get to a now 2.75.

By the time it came around for me to do an FHA streamline rates had fallen substantially allowing me to get to a now 2.75.